According to analysts of cryptocurrency trading firm QCP Capital, new investors entering the market play an important role in the rise of meme coins.
In the report recently published by QCP Capital analysts, the cryptocurrency market in general and in particular behind the massive rises in meme coins The underlying cause was included.
These increases are largely individual investors increased risk appetite and impulsive movements While it is stated that it is shaped in line with of FOMO It was stated that it really came into play.
Altcoins, especially memecoins, are rising sharply as retail FOMO is really kicking in right now.
For now, this ongoing meme shows that coin enthusiasm is related to Bitcoin. With it breaking the $69,000 top area Analysts predicting that Bitcoin may disperse, stated that as Bitcoin dominance increases, money may again flow to the leading cryptocurrency.
Led by Nikolaos Panigirtzoglou, who recently made a similar statement JPMorgan Analysts reported that the rise in altcoins was triggered by individual investors:
Similar to stocks, we see retail drive for crypto rebounding in February and thus likely responsible for this month’s strong crypto market rally
Currently among the top 100 cryptocurrencies by market value 7 meme coins is available.